Pacific Pointe Senior Living 171 4th Ave 111 Unit Apartment Building $11,000,000 ($99,099/Unit) 8% Cap Rate Chula Vista, CA 91910
INVESTMENT HIGHLIGHTS
- Huge Upside in Rents
- Value-Add Opportunity
- Excellent Location
EXECUTIVE SUMMARY
Cushman & Wakefield is pleased to present the Pacific Pointe Independent Living Community. Pacific Pointe is a 111-unit senior housing community located less than 1 mile North of Scripps Mercy Hospital in the city of Chula Vista, California. This offering provides an opportunity to acquire a fee simple interest in a stabilized asset free and clear of debt encumbrances, in one of the highest demand senior rental submarkets in the San Diego area. Built in 1974, the property was completely renovated in 2009 and consists of 111 studio apartments with approximately 350 Square feet each.
There are no known income-related restrictions currently in place, allowing this asset to have significant rental demand upside. The property is restricted to senior tenants (55+). With this well-built and efficiently designed property, an astute investor will capitalize on the strong current and future cash flow.
There are no known income-related restrictions currently in place, allowing this asset to have significant rental demand upside. The property is restricted to senior tenants (55+). With this well-built and efficiently designed property, an astute investor will capitalize on the strong current and future cash flow.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$2,966,364
|
$48.60
|
| Other Income |
$1,000
|
$0.02
|
| Vacancy Loss |
$237,309
|
$3.89
|
| Effective Gross Income |
$2,730,055
|
$44.73
|
| Taxes |
$132,000
|
$2.16
|
| Operating Expenses |
$1,720,777
|
$28.19
|
| Total Expenses |
$1,852,777
|
$30.35
|
| Net Operating Income |
$877,278
|
$14.37
|
PROPERTY FACTS
| Price | $11,000,000 |
| Price Per Unit | $99,099 |
| Sale Type | Investment |
| Cap Rate | 8% |
| Gross Rent Multiplier | 3.71 |
| No. Units | 111 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.07 AC |
| Building Size | 61,040 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built/Renovated | 1974/2009 |
| Tenancy | Single |
| Parking Ratio | 0.49/1,000 SF |
| Zoning | R4 - Senior Housing |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Sprinkler System
- Tub/Shower
- Carpet
- Smoke Free
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Business Center
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Breakfast/Coffee Concierge
- Laundry Service
- Maid Service
- Pet Play Area
- Planned Social Activities
- Smoke Free
- Community-Wide WiFi
- Elevator
- Lounge
- Maintenance on site
- Meal Service
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 111 | $2,227 | 350 |
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 566-190-02 | Total Assessment | $12,807,063 (2024) |
| Land Assessment | $2,262,057 (2024) | Annual Taxes | $132,000 ($2.16/SF) |
| Improvements Assessment | $10,545,006 (2024) | Tax Year | 2025 |
